Sec. 3986.0505. BONDS SECURED BY REVENUE OR CONTRACT PAYMENTS. The district may issue, without an election, bonds secured by:
(1) revenue other than ad valorem taxes, including contract revenues; or
(2) contract payments, provided that the requirements of Section 49.108, Water Code, have been met.
Added by Acts 2019, 86th Leg., R.S., Ch. 1269 (H.B. 4706), Sec. 1, eff. June 14, 2019.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3986 - North Celina Municipal Management District No. 3
Section 3986.0501. Tax Election Required
Section 3986.0502. Tax Limitation
Section 3986.0503. Operation and Maintenance Tax
Section 3986.0504. Authority to Borrow Money and to Issue Bonds and Other Obligations
Section 3986.0505. Bonds Secured by Revenue or Contract Payments
Section 3986.0506. Bonds Secured by Ad Valorem Taxes; Elections